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This paper investigates the implications of the fair value protections contemplated by the standard corporate contract (i.e., the standard contract form for which corporate law provides) for the entrepreneur-venture capitalist relationship, focusing, in particular, on unavoidable...
Persistent link: https://www.econbiz.de/10012668090
Innovative firms with good ideas may still struggle to fine-tune them to the stage where they can attract outside funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then pitched their ideas to independent judges. The program...
Persistent link: https://www.econbiz.de/10012200841
This paper studies the interactions between corporate law and VC exits by acquisitions, an increasingly common source of VC-related litigation. We find that transactions by VC funds under liquidity pressure are characterized by (i) a substantially lower sale price; (ii) a greater probability of...
Persistent link: https://www.econbiz.de/10013279443
This Article examines a third exit option in venture capital to supplement IPOs and trade sales: secondary markets for the sale of individual ownership interests in start-ups and venture capital (VC) funds. While investors can readily buy shares in publicly-traded companies, until recently they...
Persistent link: https://www.econbiz.de/10013038538
In 2010, to a Philadelphia audience, B Lab co-founder Jay Coen Gilbert claimed that “our capitalist system is not serving society; it's serving shareholders” and stated that “we can't run around expecting different outcomes until we change the rules of the game.” Since Gilbert's talk in...
Persistent link: https://www.econbiz.de/10013053986
Seven “Corporate Venturing” Strategies to Foster Innovation tackles the question: What should companies do to … accelerate innovation and remain relevant? Or, stated differently: What should companies do to avoid being disrupted by more … relationship with entrepreneurs, founders and startups. By “organizing-for-innovation” in this way, large firms give themselves the …
Persistent link: https://www.econbiz.de/10012985241
Persistent link: https://www.econbiz.de/10013056267
evaluating the effects of such proposed changes. First, it documents the links among VC, entrepreneurship, and innovation, and … providing incentives for venture capital (VC) investment and entrepreneurship. This article seeks to provide context for … how exit via acquisition can foster dynamic innovation, one of the stated goals of the CMA. Second, it identifies …
Persistent link: https://www.econbiz.de/10013311373
This Article shows that innovation is a process that has specific characteristics, that these characteristics give rise … tradeoff to the detriment of innovation. Innovation is a process that results in new goods, services, methods of production …, and forms of business organization. Innovation can vastly improve the welfare of consumers, investors, firms, and the …
Persistent link: https://www.econbiz.de/10014223663
US corporate law and, in particular, Delaware law, which leaves ample room to freedom of contract, has been one of the reasons for the successful creation and financing of startups in Silicon Valley. We analyze the Italian attempt to modernize company law in order to promote startup creation...
Persistent link: https://www.econbiz.de/10012865104